Receivables are as important as cash! As a business owner, it is imperative that you stay close to the accounts receivables. Receivables are one step away from being cash and cash is always “King” in business.

Whenever I start with a turnaround client, I always contact the top 10 customers (either by annual sales or the receivable balance). I schedule a visit with each to talk to the President of the organization. On each visit, I introduce myself to the owners and thank them for their business. Politely, I also ask if they could start paying their receivables according to the terms of the invoices. This visit always proved to be very successful.

Every two months, I would visit ten more customers. My goal was to build relationships with the customers to get the company’s receivables current. Another significant benefit of the “relationship building customer visits” is to make sure that if there is a problem, I know about it first. When there is a relationship between the owners of each company, usually, I can fix the issue before the company loses the customer to one of our competitors. Relationships with customers keep customers and get our receivables paid on time.

A word of advice…when it comes to business, ALWAYS STAY FOCUSED ON THE RECEIVABLES AND CASH!!!

My name isRobert Curry, and I am an Author, CEO Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.

Please click on the links below to read my other articles like Receivables are as Important as Cash.

I have recently published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I have turned around during my career. In both books, I have shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.

If the information in this article Receivables are as Important as Cash! helps you, your family or a business associate, please email me at bob@ceorsc.com and please share the story with me.

If you would like to purchase either or both books autographed by the author, please click on the following link: Redtoblackbooks.com.

Robert Curry

Bob Curry is a Turnaround Specialist with twenty years of experience of doing turnaround of companies from $5 to $600 million in sales. Bob is also a business coach and an author of two books (From Red to Black - A Business Turnaround and "The Turnaround").

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Thank you very much for commenting and your kind compliments! I write this blog to help people who do not have my experience of turning around distressed companies. I have seen many problems causing the companies that have hired me to help them. My goal is to share all that information with my readers.

I have been very lucky and successful in my career. Now I am starting my second career, writing books and articles for my website blog. My first book is being released on July 1st. The name of the book is “From Red to Black: A Business Turnaround.” It as almost 300 pages of similar stores as my blog articles. Have a great day and thank you again!